ABBVIE GETS BOTOX

After lengthy discussions, on Tuesday, drugmaker AbbVie announced that it is acquiring Allergan–the maker of the anti-aging treatment we women all do, but don’t talk about–for $63 billion. It’s one of the biggest mergers in the healthcare sector this year. The healthcare experts we spoke to say it’s a win-win for both parties: it will deliver a new source of growth for AbbVie (It’s been too heavily reliant on revenue from Humira, the arthritis drug it produces), and will provide a second wind for Allergan, which has struggled with all sorts of issues – from drug trial setbacks, disappointments with capital deployment, to strategic missteps.

BIGGER IS BETTER

“One plus one equals five.” That’s how Carl Icahn described the $17.3-billion merger of Eldorado Resorts and Casears Entertainment, which was announced on Monday. The deal, expected to close sometime next year, is the biggest gaming deal by dollars – ever – and creates the largest U.S. gaming operator, with 60 gambling spots across 16 states. The combined entity puts “Caesars,” as it will soon-be-called, in a formidable position to take on competition from Wynn Resorts, MGM and others, and could even spell the end for Bally’s in Atlantic City. Caesars will be based in Reno, and traded on the Nasdaq.

PRIME MADNESS

Shop ’til you drop? On Tuesday, Amazon revealed it would be holding its annual Prime Day (now in its 5th year) for not one day, but two, starting on Monday, July 15…at 3 am eastern. As usual, it promises to be bigger and better in years past and yada, yada, yada…

Connect With Us